Loss reserves are being increased by some P&C insurance carriers as a result of “social inflation,” reports The Wall Street Journal in a December, 2019 article titled “A Specter that is Haunting Insurers.” High tort awards are one of several forms of social inflation. “Social inflation” is described by the Journal as “… an upward […]
Panel Counsel Growth with a Market Penetration Study
A market penetration study at the state level can help an insurance defense law firm answer the perennial question, “How Can I Get on More Insurance Panels?”. By “market penetration,” we are referring to an analysis that identifies which property and casualty (P&C) insurance companies have the leading market share positions within a state by […]
P&C Insurance Industry Mergers & Acquisitions
The impact of consolidation within the property and casualty (P&C) insurance industry on insurance defense law firms is best understood when looking at the number of insurance industry mergers and acquisitions that have taken place in the last five years, as listed below. In many instances the existing defense panel counsel program was consolidated at […]
Active Shooter Insurance & Defense Law Firms
Protection through active shooter insurance is growing as the number of shootings accelerates. FBI records indicate 16.4 annual events between 2007 and 2013, more than double the yearly average of 6.4 incidents between 2000 and 2006. Employment defense law firms in particular are advised that guidance and counsel offered to employer clients following recent events […]
Uber Insurance Coverage for Liability
Uber’s valuation is $80-$90 billion despite slowing revenue and user growth and the loss of $1.8 billion last year alone when excluding certain business sales, according to its recent IPO filing with the Securities and Exchange Commission. The offering will be the biggest share sale since Alibaba Group went public on the New York Stock […]
Potential Clients in Grocery and Meal Delivery
Restaurants and grocers are experimenting with various methods of grocery and meal delivery to customers’ homes and offices, in part because these industries are not experiencing significant growth in foot traffic. Venture capital firms invested $5 billion into meal and grocery delivery services in 2018 alone, a four-fold increase from 2017. Some meal and grocery […]
How to Get on Insurance Panels in 2019
Intention is the first step in becoming panel counsel for a new insurance carrier in 2019. This article outlines how to get on more insurance panels in 2019. As Deepak Chopra says, intention is the starting point of every dream. Whether you want to become AIG panel counsel, Hartford insurance panel counsel, or State Farm panel […]
Workers’ Comp 2019 Insurance Trends
Workers’ compensation rates for 2019 reveal a trend of decreased rates across multiple states as a variety of factors are positively affecting the employment industry, such as safer workplaces and increased employment. The National Council on Compensation Insurance (NCCI) attributed the improved industry outlook to “safer workplaces and increased use of automation and innovative technologies.” […]
Safeco Expands Personal Lines
EMC Insurance is exiting the personal lines insurance business, which represents only about 10 percent of their total policies. Safeco Insurance, a Liberty Mutual Company, will be accepting the transfer of EMC personal lines policies from EMC-licensed agents, beginning in the first quarter of 2019. The move follows a strategic decision by EMC to focus […]
XL Catlin Acquired by AXA
AXA XL is the name of the new Property & Casualty and specialty risk division of AXA. The division reflects the combined resources of XL Insurance, XL Reinsurance, AXA Corporate Solutions, AXA Matrix, and XL Art & Lifestyle. The acquisition, which closed September 12, places the newly combined firm in the #1 global position for […]
